The Value of Tax Liability has been decreased up to Fifty Million rupees for the purpose of Alternative Dispute Resolution u/s 38 of Federal Excise Act, 2005.
Islamabad 09-05-2024: The “Tax Law Amendment Act 2024” has amended the value of tax liability for Alternative Dispute Resolution u/s 38 of Sales Tax Act 1990. The amended section 38 of Federal Excise Act, 2005 is reproduced as under:-
"38. Alternative dispute resolution.- (1) Notwithstanding any other provision of this Act, or the rules made thereunder, an aggrieved person in connection with any dispute pertaining to-
(a) the liability of tax of fifty million rupees or above against the aggrieved person or admissibility of refund, as the case may be;
(b) the extent of waiver of default surcharge and penalty; or
(c) any other specific relief required to resolve the dispute, may apply, except where criminal proceedings have been initiated, to the Board for the appointment of a committee for the resolution of any hardship or dispute mentioned in detail in the application:
Provided that where the aggrieved person is a State-Owned Enterprise (SOE), the limit of tax liability of fifty million rupees or above mentioned in clause (a) of sub-section (1) shall not apply and it shall be mandatory for such aggrieved SOE to apply to the Board for the appointment of a committee for the resolution of any dispute under this section:
Provided further that no suit, prosecution, or other legal proceedings shall lie against the SOE in relation to the dispute resolved under this section.
Explanation.— State-Owned Enterprise shall have the same meaning as assigned thereto in the State-Owned Enterprises (Governance and Operations) Act, 2023 (VII of 2023).
(2) Provisions of section 134A of the Income Tax Ordinance, 2001 (XLIX of 2001) and rules made thereunder relating to Alternative Dispute Resolution shall, mutatis mutandis, apply to applications for alternative dispute resolution under this Act.".
Powered by Froala Editor
